Fitch affirms ENAP

Fitch Ratings said it affirmed the foreign-currency issuer default rating of Empresa Nacional del Petroleo at A, adding that $1.24 billion of its foreign unsecured debt is affected.

In addition, Fitch noted that it has affirmed ENAP's national-scale rating at AAA(cl), which affects about $581 million of local bond issuances.

The agency said it also affirmed two local short-term programs for UF 3 million each at F1+/AAA(cl).

The outlook is stable.

ENAP's ratings reflect its ownership by the Chilean government, the company's strong legal, operational and strategic ties with the state, and its strategic importance to assure the country's energy supply, the agency added.

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